Dynamic Relationship among Education, Poverty and Economic

Abstract

This study examined the dynamic relationship among education, poverty and economic growth in Nigeria from 1986 to 2011. The study employed secondary data sourced from World Bank World Development Indicators, Central Bank of Nigeria (CBN) annual reports and statement of accounts and statistical bulletin. The data were analyzed using Unit Root Test, Co-integration, Error Correction Mechanism, and Granger Causality Test. There is long run relationship among education, poverty and economic growth in Nigeria. There is a unidirectional causality from poverty to economic growth at 5 percent level of significance; but there is no causal relationship between education and poverty, education and economic growth and between poverty and economic growth at 5 percent level of significance. The study recommends among others that policies that can improve literacy rate such as acquisition of skills, entrepreneurship education or development, small scale enterprise that can reduce the level of poverty in Nigeria should be adopted.